GRAVITY (NASDAQ:GRVY) Stock Passes Below 50-Day Moving Average – What’s Next?

Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $62.84 and traded as low as $61.80. GRAVITY shares last traded at $63.23, with a volume of 19,302 shares traded.

GRAVITY Stock Performance

The firm has a market cap of $443.41 million, a PE ratio of 8.74 and a beta of 1.01. The stock’s 50 day simple moving average is $62.95 and its 200 day simple moving average is $62.86.

GRAVITY (NASDAQ:GRVY) last posted its quarterly earnings data on Friday, April 10th. The technology company reported $1.07 earnings per share for the quarter. GRAVITY had a net margin of 12.63% and a return on equity of 11.44%. The firm had revenue of $78.53 million for the quarter.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of GRAVITY by 11.3% in the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock worth $177,000 after acquiring an additional 282 shares during the last quarter. Signaturefd LLC grew its position in GRAVITY by 63.4% during the 4th quarter. Signaturefd LLC now owns 959 shares of the technology company’s stock worth $55,000 after acquiring an additional 372 shares during the last quarter. Royal Bank of Canada increased its stake in GRAVITY by 133.4% in the 4th quarter. Royal Bank of Canada now owns 817 shares of the technology company’s stock worth $47,000 after purchasing an additional 467 shares during the period. Farther Finance Advisors LLC increased its stake in shares of GRAVITY by 19,866.7% in the fourth quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock worth $35,000 after buying an additional 596 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of GRAVITY by 49.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,822 shares of the technology company’s stock valued at $105,000 after acquiring an additional 603 shares during the period. 9.92% of the stock is owned by hedge funds and other institutional investors.

About GRAVITY

Gravity Co, Ltd is a South Korea–based developer and publisher of online games, best known for creating the Ragnarok franchise. Since its founding in 2000 by industry veteran Kim Sang-young, the company has specialized in massively multiplayer online role‐playing games (MMORPGs) and related digital content. Over the years, Gravity has expanded its portfolio beyond its flagship title to include sequels, spin-offs and mobile adaptations targeted at a global audience.

The company’s product lineup centers on PC and mobile MMORPGs built on the Ragnarok intellectual property.